Apple Take A Bite Of Bitcoin

Many had written-off Bitcoin and cryptocurrency last year, after its massive 80%+ decline in value. Doomsday prophets and naysayers were puffing their chest in pride, as their prophecies seemed to be playing out.

But, the commonly accepted definition of failure is “staying down after a fall”. In this respect, Bitcoin is proving to be a successful platform, because the turn of 2019 saw the platform ‘stand up’ again, proving that it doesn’t matter how many times you get knocked down, but how many times you get back up and dust yourself up again that counts.

Industry tech giants have however seen the potential in Blockchain and Bitcoin for ages now and didn’t seem too concerned by the downward trends last year. We have seen recently how Facebook, Samsung and other companies have recently shown their faith in the crypto world. Their ideas and innovations designed around virtual currency and blockchain were not birthed overnight but are a result of months of planning and testing.

The world is being forced to awake from their slumber on the subject and stand up and pay attention to what is going on in this sphere, especially since another massive company has announced new tech innovation in support of their client’s crypto usage – that company is Apple.

APPLES WALK A SURPRISE

Apple, the mother company of the iPhone and iPad has just recently revealed that its new iOS13 operating system will be released with a state-of-the-art cryptographic developer tool, called “Crypto-Kit”. The new tech will be replacing it’s out of date framework, ‘CommonCrypto’ software, to relaunch its Bitcoin interest.

Alejandro Machado, the co-founder at Open Money Initiative stated: “For the first time, developers can leverage the secure enclave to manage a user’s keys in an iPhone, achieving a similar level of security to hardware wallets.”

The innovation has effectively changed the iPhone into a secure crypto wallet. This is a surprising development since Apple was heading down a rocky road with Bitcoin and cryptocurrency, having removed the famous ‘Coinbase’ app from its iStore, as well as a large selection of other cryptocurrency apps. This was said to be done in defiance of Blockchain.

Nevertheless, this news is very positive for crypto markets and provides a show of support to the principles of the Blockchain, which seems to be carving the face of the future.

HOW THIS NEWS BENEFITS THE BITCOIN INDUSTRY

Each time a leading technology brand attaches itself to Bitcoin or the Blockchain in any way, it can only have a positive knock-on effect for the industry.

Apple is a household name, with its devices being used by millions of consumers. This effectively places crypto resources in the palms of the masses.

Such movements lead to curiosity in the industry, meaning that far more people will be inclined to educate themselves on the subject of cryptocurrency. It is a well-known fact, many consumers avoid Bitcoin because they are not sure of what it is.

Correct education and knowledge of the product will be inclined to grow the market and the usage of Bitcoin and other cryptocurrencies, making crypto businesses the recipients of n influx of spending.

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